Tag: US

Steel is a foundation of the global economy. It is an essential raw material for nearly every industry, from automotive and construction to transportation, machinery, and energy.

Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.

Foreign cold-rolled (CR) coil remains less expensive than domestic product, according to SMU’s latest check of the market.

Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.

Here’s a roundup of the latest news in the global aluminum market from our colleagues at CRU. Biden calls for tripling of Chinese steel and aluminum tariffs President Joe Biden is calling on the US Trade Representative (USTR) to consider increasing the existing section 301 import duty on Chinese steel and aluminum three-fold. The current […]

To the surprise of many — myself included — flat-rolled steel prices appear to be in a holding pattern… again. This is not familiar territory for hot-rolled (HR) coil, at least not over the past few years. Its pricing volatility (as my colleague Michael Cowden has noted in past columns) may rival the elastic moves […]

While general economic conditions across the US improved slightly over the last six weeks, activity in the manufacturing sector was weak, according to the Fed’s latest Beige Book report.

Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.

A lot of economists were predicting a recession last year. Ken Simonson, chief economist for The Associated General Contractors of America (AGC), wasn’t one of them.

US hot-rolled (HR) coil has become gradually more expensive than offshore hot band in recent weeks, as stateside prices have stabilized while imports moved lower.

In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.

Metalformers expect economic activity to remain level over the next three months, according to the April Business Conditions Report from the Precision Metalforming Association (PMA).

North American auto assemblies ticked up in March vs. the prior month, according to LMC Automotive data. While assemblies were up month on month (m/m), they are down 4.5% year on year (y/y).

The Biden administration on Wednesday announced measures to support the domestic steel industry.

Russel Metals Inc.’s planned purchase of seven service centers in western Canada from Samuel, Son & Co. has been delayed.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror. The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize. The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.

I’m writing these Final thoughts from the 2024 ISRI Convention and Exposition in Las Vegas. I wasn’t the only one with the good idea to attend. Approximately 6,625 others did – a new record for the event. So, a big congratulations to ISRI.

Sheet prices varied this week. While hot-rolled (HR) coil pricing was largely flat, cold-rolled (CR) coil and tandem product pricing eased slightly reflecting the momentum shift seen last week for HR coil. SMU’s average HR coil price was flat from last week at $835 per short ton (st) – potentially emphasizing the tension between competing […]

Following a strong February, US housing starts eased through March to a seven-month low, according to the most recent data from the US Census Bureau.

Domestic raw steel production slipped from last week’s multi-month high, according to the American Iron and Steel Institute (AISI).

US light-vehicle (LV) sales rose to an unadjusted 1.44 million units in March, up 4.6% vs. year-ago levels, the US Bureau of Economic Analysis (BEA) reported. The year-on-year (y/y) growth in domestic LV sales came in despite a 1.3% month-on-month (m/m) decline.

Flat Rolled = 58.3 shipping days of supply Plate = 60.6 shipping days of supply Flat Rolled US service center flat-rolled steel inventories edged up in March as shipments remained low. At the end of March, service centers carried 58.3 shipping days of supply on an adjusted basis, up from 56.6 shipping days in February. […]

Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?

As the ISRI 2024 conference unfolds in Las Vegas, attendees are diving into crucial discussions shaping the future of the recycling industry. Here are the main topics being discussed: New steelmaking capacity coming online this year Export demand during this period Infrastructure spending Supply of pig iron and HBI Current logistics challenges May scrap prices […]

Last week was a newsy one for the US sheet market. Nucor’s announcement that it would publish a weekly HR spot price was the talk of the town – whether that was in chatter among colleagues, at the Boy Scouts of America Metals Industry dinner, or in SMU’s latest market survey. Some think that it could Nucor's spot HR price could bring stability to notoriously volatile US sheet prices, according to SMU's latest steel market survey. Others think it’s too early to gauge its impact. And still others said they were leery of any attempt by producers to control prices.

Domestic shipments of heating and cooling equipment soared in February, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

Drilling activity decreased in the US but rose in Canada in the week ended April 12, according to the latest data from Baker Hughes.

Total domestic aluminum mill products orders in March were up 0.2% compared to March 2023, according to the latest “Index of Net New Orders of Aluminum Mill Products” released by the US Aluminum Association (AA). This is much lower than the growth of 9.3% year over year (y/y) reported in February.

As we navigate through the first half of 2024, we are seeing early signs of an inflationary rate environment for flatbed shipping, albeit slightly later than anticipated. Excess supply has persisted longer than expected for both flatbed and dry van, resulting in rates remaining lower than for longer than anticipated.